The chloroform market is expected to witness market growth at a rate of 5.60% in the forecast period of 2021 to 2028 is expected to reach USD 3.61 billion by 2028. Data Bridge Market Research report on chloroform market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The high demand for the products due to its wide range of applications in various end user industries is escalating the growth of the chloroform market.
Chloroform refers to solvent which is extensively utilized for organic compounds and is denoted as trichloromethane. The substance is colorless, volatile and has a strong and pleasant odor and it is insoluble in water. It is used as solvent and reagent in laboratories applications such as dissolving of non-nucleic acid biomolecules in DNA and RNA extractions and also highly used in other end user industries including chemical, paper and others.
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The utilization of chloroform in numerous industries and the growth in pharmaceutical sector increases the demand for the products which acts as the major factors driving the chloroform market. The increase in demand of chloroform from biotechnology sector as reagent for DNA and RNA research activities and the use of the product for the long preservation of organic tissues in bio-labs as it prevents from decaying process accelerate the chloroform market growth. The high demand in paper and construction sectors, utilization as a solvent for floor polishes, fat, oil, rubber among others also influence the chloroform market. Additionally, its use as a heat transfer medium in fire extinguishers and utilization in manufacturing of fluorocarbon-22 (F22) positively affect the chloroform market. Furthermore, the growth in agrochemical sector generating high demand for chloroform for the production of pesticide and insecticides extend profitable opportunities to the chloroform market players in the forecast period of 2021 to 2028.
On the other hand, implementation of stringent government regulatory norms associated with environmental effects of the substance such as ozone depletion is expected to obstruct the chloroform market growth. The concerns regarding the acute chloroform toxicity which may cause cardiac arrhythmia, central nervous dysfunction and impaired liver function is projected to challenge the chloroform market in the forecast period of 2021-2028.
Competitive Landscape and Chloroform Market Share Analysis
The chloroform market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to chloroform market.
The major players covered in the chloroform market report are Dow, PRODUCTOS ADITIVOS, S.A., BASF SE, Solvay, Arihant Chemical, INEOS, Tokuyama Corporation, Shin-Etsu Chemical Co., Ltd., Akzo Nobel N.V., Nouryon, Sumitomo Chemical Co., Ltd., Khimprom, Occidental Petroleum Corporation, RIDHDHI SIDHDHI CHEMICALS, JIGCHEM UNIVERSAL, B JOSHI AGROCHEM PHARMA, Olin Corporation, NIKE CHEMICAL INDIA, SWASTIK CHEM IMPEX among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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This chloroform market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on chloroform market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Chloroform Market Scope and Market Size
The chloroform market is segmented on the basis of grade, application and end users. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of grade, the chloroform market is segmented into technical grade, alcohol stabilized grade and fluorocarbon grade.
- On the basis of application, the chloroform market is segmented into solvent, intermediates, reagent and others.
- On the basis of end users, the chloroform market is segmented into pharmaceutical, agrochemical, chemical industry and others.
Global Chloroform Market Country Level Analysis
The chloroform market is analyzed and market size, volume information is provided by country, grade, application and end users as referenced above.
The countries covered in the global chloroform market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the chloroform market due to the rise in the pharmaceutical and medicine production in the region.
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The latest market intelligence report, titled “Global Chloroform Market Forecast to 2027,” illustrates the significant aspects of the global Chloroform business sphere.
The latest study offers valuable business insights and elaborates on the present and future trends of the Chloroform market, including the technological innovations and the key market growth-influencing factors.
The global Chloroform market report is expected to help readers identify the products and services offered by this industry vertical.
The research report draws focus on a plethora of market dynamics, including the key market drivers, opportunities, constraints, threats, challenges, and several industry-specific trends.
Additionally, the study focuses on the downstream and upstream analysis of the leading Chloroform market players.The report puts forward an exclusive assessment of the significant impact of the COVID-19 pandemic on the global Chloroform market.
The viral outbreak has devastated the global business scenario, affecting the manufacturers and buyers involved in this industry negatively.
